AIG Annuity Insurance Company
- now known as Western National
- parent company, AGC Life Insurance Company
- NATIONAL WESTERN LIFE INSURANCE COMPANY V. WESTERN NATIONAL LIFE INSURANCE COMPANY AND AGC LIFE INSURANCE COMPANY - Cause No. A-09-CA-711 LY
- 2010 1201 - WSJ - Fresh Details on the Fed Rescue of A.I.G.’s Insurance Units, by Mary Williams Walsh - [link]
- Insurance assets are held to secure policyholders’ claims and are not supposed to be encumbered or pledged.
- At one point, the A.I.G. Annuity Insurance Company, of Texas, had more than $10 billion of its assets under Fed control, the new records show.
- That subsidiary is now known as Western National.
- 2008 0922 - ABCNews - Some sales of AIG annuities on hold, By Kathy Chu, USA TODAY - [link]
- Dozens of banks have suspended sales of AIG annuities, a sign of the challenge the company faces holding onto business a week after the government took it over.
- Because the majority of AIG fixed annuities are sold through banks, a disruption in such sales could tamp the insurer's growth.
- In the first half of 2008, AIG's subsidiaries were the largest provider of individual fixed annuities sold through banks and among the top 10 variable annuity issuers, according to Kehrer-Limra, a consulting firm.
- 2006 1226 - ABA - In Brief: AIG Annuity Offering New Lifetime Income Benefit, American Bankers Association
- AIG Annuity Insurance Co. of Houston is unveiling a lifetime income benefit option for new contract holders of its retail and bank proprietary fixed annuity products.
- The product, which was to be announced today, is the industry's first lifetime income benefit option available on a traditional fixed annuity contract, said Steve Poston, AIG Annuity's chief operating officer.
- Contract holders who elect the new lifetime withdrawals are guaranteed not to outlive their income and can receive annual withdrawals of 5% without annuitization.